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Oracle 1z1-408 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Intercompany and Balancing | 15% | - Automatic balancing and elimination entries - Intercompany reconciliation - Configuring intercompany accounts and rules |
| Topic 2: Journal Processing | 20% | - Recurring, allocation, and reversal journals - Journal import and validation - Creating, approving, and posting journals |
| Topic 3: Ledgers and Accounting Configurations | 20% | - Defining ledgers, ledger sets, and reporting currencies - Currency and conversion rules - Accounting calendars and period management |
| Topic 4: Reporting and Analysis | 10% | - Financial reporting using OTBI and Smart View - Account inspector and balance analysis - Trial balance and inquiry tools |
| Topic 5: Consolidation and Close Process | 15% | - Period close and year-end processing - Translation and revaluation - Consolidation methods and eliminations |
| Topic 6: Chart of Accounts | 20% | - Value sets, segments, and qualifiers - Cross-validation rules and segment security - Designing and configuring chart of accounts structure |
Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. You need to integrate Fusion Accounting Hub with external source systems used for Billing.
Identity the step that is not correct when implementing this integration.
A) Analyze external system transactions.
B) Create the accounting in the source system and then import the journal entries into subledger accounting.
C) Capture accounting events.
D) Determine the accounting impact of transactions.
2. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?
A) Account Analysis Reports
B) An Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
C) Journals Reports
D) Aging Reports
3. Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center.
What should you do to correct the problem?
A) Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.
B) Open the Manage Users page and make sure the employees at
C) Open the Oracle Identity Management (OIM) and make sure the data roles were created.
D) Open Access Policy Manager (APM) and assign the roles manually
4. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?
A) Use Oracle Hyperion Financial Management for this type of complex consolidation.
B) Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
C) Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
D) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
5. Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?
A) Update the journal through workflow
B) Reverse the journaland create a new one.
C) Click the Withdraw Approval button in the Edit Journals page and edit the journal.
D) Delete the journal and create a new journal.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: A |
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